(d) Bank and non-bank financial institutions under regulatory control of Bangladesh Bank;(e) Insurance companies regulated under Insurance Act, 1938 (Act No. IV of 1938);(f) Institutional venture capital and institutional investors registered withor approved by the Commission;(g) Stock Dealer registered with the Commission; and(h) Any other artificial juridical person permitted by the Commission forthis purpose.
Procedures to be followed for determining price under book-building method:
(a) Issuer shall invite for indicative price offer from the eligible institutionalinvestors through proper disclosure, presentation, document, seminar,road show, etc;(b) Issuer in association with issue manager and eligible institutional investorsshall quote an indicative price in the prospectus and submit the same to theCommission with copy to the stock exchanges;(c) Such indicative price range shall be determined as per price indicationsobtained from at least five eligible institutional investors covering at leastthree different categories of such investors;(d) Rationale for the indicative price must be included in the prospectus
theissuer is required to disclose in detail about the qualitative andquantitative factors justifying the indicative price;(e) The indicative price shall be the basis for formal price building with anupward and downward band of 20% (twenty percent) of indicative pricewithin which eligible institutional investors shall bid for the allocatedamount of security;(f) Eligible institutional investors bidding shall commence after getting consentfrom the Commission for this purpose;(g) If institutional quota is not cleared at 20% (twenty percent) below indicativeprice, the issue will be considered cancelled unless the floor price is furtherlowered within the face value of security :Provided that, the issuer·s chance to lower the price shall not be more thanonce;(h) Prospectus will have to be posted on the Websites of the Commission, stockexchanges, issue manager and issuer at least two weeks prior to the startof the bidding to facilitate investors to know about the company and allaspect of offering ;